In this paper we examine the effects of asymmetric information on the nature of financial equilibrium and on the capital structure of firms. In the first model presented, the financial contracts on offer involve pooling equilibrium with no adverse selection. However, in the special case...

This paper analyses technical efficiency of European banks over the period 1996-2003 with unbalanced panel data techniques. A latent class frontier model is used which allows the identification of different segments in the production frontier. We find that there are three statistically...

This paper seeks to analyse the relationship between wages and education at a European level, using a quantile regression in order to be able to extend the study along the whole wage distribution. This analysis is carried out for a sample of 14 European countries (Austria, Belgium, Denmark,...

Most searchers performing unit root tests on terrorism series reject the null hypothesis of unit roots (I(1)) and conclude that terrorism is stationary (I(0)). In this paper we analyze ETA activity in Spain during the last 30 years by means of examining its degree of dependence across time,...

This article uses an econometric frontier model to evaluate the technical efficiency of English Premier League clubs from 1998/99 to 2002/03 combining sport and financial variables. A Cobb-Douglas cost specification of the technical efficiency effects model is used to generate football club...

This paper analyses the productivity of Brazilian seaports over the period 2004--2010, using a Malmquist index with technological bias. During this period, Brazilian seaports, on average, became less productive with improvements in efficiency change and deterioration in technological change. Our...

This paper analyzes the pattern of player substitutions during a soccer match using data from the Spanish First Division in the 2004—2005 season. We use an inverse Gaussian hazard model to analyze the first substitutions on each team taking place either at halftime or in the second half...

This paper uses the Luenberger productivity indicator to evaluate productivity changes of European airlines, combining operational and financial variables from 2000 to 2011. For comparative purposes the Malmquist index is estimated. Three low cost European airlines are inserted in the data set,...